Toys ‘R’ Us making a comeback under new name, a year after going out of business

One year after going out of business, Toys ‘R’ Us is looking to make a comeback.

A new company called Tru Kids Inc. announced Monday that it has taken over as the parent company of several Toys ‘R’ Us brands including Babies ‘R’ Us and the company’s former mascot Geoffrey the giraffe.

Headquartered in Parsippanny, New Jersey, the new company is led by president Richard Barry, the former chief merchandising officers of Toys ‘R’ Us.

As a part of its business strategy, the company will be opening 70 stores in 2019 in Asia, India and Europe.

The company has yet to announce its U.S. business strategy.

In a statement, Tru Kids said further details of its U.S. business strategy are in the works.

According to a report by CNBC, the new company is exploring multiple options, including freestanding stores, pop-up shops and partnerships.

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